According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in February increased $10 to $1,628 (up 15.4% year-over-year). Yardi says that while rent growth once again rose to record levels, the pace will likely decelerate in the coming months.
“The sustained growth illustrates the long-term shortage in America’s housing supply, which has been exposed to a surge in demand. Single-family home prices jumped 18.8% in 2021, according to the S&P Case-Shiller Index, while multifamily rents have kept apace as absorption has been robust in virtually every market.”
Click here to read the full report at Yardimatrix.com.
